Ukraine: Verkhovna Rada adopted the land market law as it stands

Source

APK-Inform

16159

On March 31, the Verkhovna Rada of Ukraine at the extraordinary session adopted the draft law #2178-10 “On amendments to certain legislative acts of Ukraine regarding the agricultural land turnover” as it stands. 259 members of the parliament voted for adoption of the law.

At the same time, the draft law was adopted with the earlier proposed amendments by the President of Ukraine, Volodymyr Zelenskyy.

In particular, the law provides the further opening of the land market since July 1, 2021, instead of the previously announced date of October 1, 2020. Moreover, for the first 3 years after opening of the market, the right to buy agricultural land is given solely to physical entities.

In addition, the law determines the restrictions for land purchase to 100 ha per person for the first 2 years. In the following period, when the legal entities enter the market, the restrictions for purchasing will grow to 10 thsd ha that corresponds to the previous version of the market model.

At the same time, it is prohibited to sell the state lands. The market access for foreign entities will be determined by the all-Ukrainian referendum on the issue.

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